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DC is way off. The incomes are among the highest in America, but the cost to rent or buy a house is way less than San Fran, Boston, NYC, LA etc.
Is it really much cheaper to own a home in DC MSA? Rent is lower but the housing prices are still very high. The condos in the area are reasonable though.
Is it really much cheaper to own a home in DC MSA? Rent is lower but the housing prices are still very high. The condos in the area are reasonable though.
The cost to buy a house is cheaper. Look at PG County MD, Charles County MD, and Ward 7 and 8 in DC. They aren’t that far off southern metros.
The link says after taxes. That's around 100K in the DMV without accounting for pre-tax deductions. If you plan to have health benefits and a fully-funded 401(k), you would need to gross around 120K.
To live in PG County MD, Charles County MD, and Ward 7 and Ward 8 in DC?
How would someone in NYC only need $2,000 more to live the same as someone in DC? Where does the rent in NYC compare? Which area of NYC would have the same mortgage as someone living in DC? Just factoring in property taxes makes the mortgage cost very different.
They have someone in LA needing basically the same salary as DC to live ($76K after taxes). My best friend lives in LA and that couldn’t be further from the truth. Where exactly would people be living in LA that compares to a PG County MD, Charles County MD, or Ward 7 and 8 in DC for housing?
Last edited by MDAllstar; 03-11-2023 at 06:05 AM..
To live in PG County MD, Charles County MD, and Ward 7 and Ward 8 in DC?
How would someone in NYC only need $2,000 more to live the same as someone in DC? Where does the rent in NYC compare? Which area of NYC would have the same mortgage as someone living in DC? Just factoring in property taxes makes the mortgage cost very different.
They have someone in LA needing basically the same salary as DC to live ($76K after taxes). My best friend lives in LA and that couldn’t be further from the truth. Where exactly would people be living in LA that compares to a PG County MD, Charles County MD, or Ward 7 and 8 in DC for housing?
Probably cause for LA the gap in COL is only housing. Housing is typically 30%-35% of spending there are a lot of things to make up ground in.
To live in PG County MD, Charles County MD, and Ward 7 and Ward 8 in DC?
How would someone in NYC only need $2,000 more to live the same as someone in DC? Where does the rent in NYC compare? Which area of NYC would have the same mortgage as someone living in DC? Just factoring in property taxes makes the mortgage cost very different.
They have someone in LA needing basically the same salary as DC to live ($76K after taxes). My best friend lives in LA and that couldn’t be further from the truth. Where exactly would people be living in LA that compares to a PG County MD, Charles County MD, or Ward 7 and 8 in DC for housing?
This is looking at whole metro areas, not just city propers. And I didn't see where it said homeownership was required to "live comfortably." The price of real estate in larger West Coast metros is almost higher across the board, but the rent isn't.
This is looking at whole metro areas, not just city propers. And I didn't see where it said homeownership was required to "live comfortably." The price of real estate in larger West Coast metros is almost higher across the board, but the rent isn't.
Really? Where is rent broadly affordable in any major West Coast metro?
Really? Where is rent broadly affordable in any major West Coast metro?
I didn't say the rent was broadly affordable. I said the rent wasn't higher. In other words, it costs much more to buy in San Diego than it does in DC but not any more to rent.
This is looking at whole metro areas, not just city propers. And I didn't see where it said homeownership was required to "live comfortably." The price of real estate in larger West Coast metros is almost higher across the board, but the rent isn't.
Rent makes this way worse. If you look at rent in DC and LA, this isn’t close.
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